News in brief: 30 July

- Denmark’s Velliv has entered into a new partnership with Tryg, in whichTryg will in future sell pension products from Velliv through the brand Tryg Pension - which is co-branded with Velliv.

The agreement will enter into force on 1 October 2021. Commenting, Velliv CEO, Michael Erichsen, said: "We have been apart for a short period. I'm very glad we'll be together again. We enter into a partnership where we together deliver strong competitive value propositions. The goal is to ensure high customer satisfaction, loyalty and profitability based on common values in a long-term strategic collaboration. We get more into all of this when we approach the start of the collaboration.”

- More than 3.6 million Britons have no idea how many pensions they have and risk paying more in fees than they need to, according to research by Scottish Widows.

The pension provider called for a ‘system overhaul’ to help savers get control of their finances and make the pensions system more efficient. Although Scottish Widows noted that the pensions dashboards will allow people to see all their pensions in one place, it warned that dashboards would not solve the issue of savers paying fees to multiple providers.

- Legal & General (L&G) has announced that it will fund and deliver a new innovation district with the University of Oxford, extending Oxford’s existing Begbroke Science Park.

The first phase of the scheme will bring forward new teaching facilities for the universities’ Mathematical, Physical and Life Sciences departments, as well as providing space to incubate spin-out companies. Future phases will also seek to develop 2,000 new homes, with a mix of affordable tenures and subsidised key worker accommodation. The new Begbroke innovation district forms part of Legal & General’s £4bn partnership with the University of Oxford; Oxford University Development.

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